Contents insurance generally covers belongings inside your home, such as furniture, clothing, appliances and electronics, against insured events listed in the policy, which may include theft, fire or storm damage. Cover can vary between insurers, and items such as jewellery, bicycles or portable electronics may have limits or require specified-item cover. Estimate the replacement cost of your belongings carefully and check whether the policy pays new-for-old or considers depreciation. Read the product disclosure statement and ask the insurer about exclusions, excesses and cover that applies away from home.